standard bid
document received from the Railway Board covering the new
price escalation clause based on the latest board guidelines.
A decision is also taken ... that till the contracts as per new
price-escalation clause are awarded, necessary arrangements
may be made by keeping adequate imprest. In a nutshell
this contract price which is required to be duly adjusted
under Clause 5.4. The contract price under Clause 5.1.2 was total
delivery price per metric ... exceed
the relevant CIL price.
5.4 Price Adjustments
5.4.3 Escalation in Price
The Basic Price as set out in Clause 5.2.2 shall be
adjusted each
Bharat Aluminium Co. Ltd vs Lark Constructions Private Ltd. 24 ... on 14 December, 2018
Author
jurisdiction to grant the escalated price. Clause 40.0 is
reproduced below:
"40.0 Rates/Prices
The quoted rates/prices for the items shall be complete ... instant appeal is whether in the absence of
any price escalation clause in the original agreement and
specific prohibition to the contrary in the supplemental
Further, the Corporation should also submit the reason for denying the price escalation
clause within 7 days. However, the Council directed NBCC ... paid any payment nor submitted any reason for denial of the
Price escalation. The unit then submitted documents related with the price escalation,
Page
overhead charges and price escalation. One of the arguments raised by the
State is that the price escalation clause was scored out and therefore ... claiming escalation on
overhead charges but once the delay was on the part of the appellant, the
fact that there was no escalation clause could
exemption
benefit under the relevant notifications. In terms of the price escalation
clause in the Railway contracts the appellant received certain
additional amounts
payment of central excise duty of
Rs. 9,26,377/- on price escalation bills raised for Rs.
74,94,955/- on final products manufactured ... that the additional duty was required to be paid due
to price escalation clause existing in the relevant contracts.
Hence, the same could
supplementary invoices which had to be done so due to the price escalation clause. The appellant discharged duty liability they did not pay interest. Show
FIRM PRICE:
Subject to Clause 11.2 above, the Contract Price shall remain FIRM and fixed till the completion of work and no escalation in prices ... clear that the contract price shall remain firm and fixed with no scope of escalation price on any account. Clause 56 inter alia speaks about
